Testifying to Congress this month, Federal Reserve Chair Jerome Powell sent a message seldom heard from his predecessors: That the Fed should consider the struggles of the lowest-income Americans in setting its interest-rate policies. “We want to remind ourselves,” Powell said, “that prosperity isn’t experienced in all communities. Low- and moderate-income communities in many cases are just starting to feel the benefits of this expansion.” It wasn’t the first time Powell had sounded that theme of late. At a news conference in July, he noted that pay had begun rising fastest for lower-skilled workers, a shift from ... (full story)